Niceville Florida Real Estate Information

When President Obama signed an extension of the 8,000 tax credit for first time homebuyers in November 2009 he included a provision for current home owners to get a tax credit when purchasing a new home as well. Unlike the first time home buyer tax credit, the repeat buyer will recieve a tax credit of $6,000. To qualify you must have lived in your present home for 5 of the past 8 years. You must sign a purchase contract for a new primary home before April 30, 2010, with a 60-day extension to June 30, 2010 to close the deal.

The Difference Between a Tax Credit and a Tax Deduction

A tax credit is applied directly to taxes owed. If you owe $6,500 in taxes and apply the $6,000 tax credit, your tax bill is reduced to $500. If you have already paid $7,000 through payroll deductions or estimated tax payments, you will get a refund of $1,000.

A tax deduction is a reduction against earned income. If you made $100,000, an 6,000 tax deduction would simply reduce that income for tax purposes to $94,000, and you would pay taxes on that lower income.

Time to Act is Now

The deadline to receive the tax credit is rapidly approaching so start shopping now. Remember that you must have a valid contract on April 30th to qualify and close on the house by the end of June. With many short sales in the area you will need every bit of this time to close on the house.

All the best!

Judy Griffin, Realtor, Realtor

Pelican Real Estate

www.EmeraldCoastFloridaHomes.com

If you are thinking about downsizing your home, this may be a great time to put your home on the market. While home prices are still lower than a few years ago netting you a little less when selling the loss should be negligible with the money that you will save on buying your new home at the lower prices.

Even Uncle Sam wants you to buy a new home. The expansion of the first time home buyer tax credit extended a tax credit of 6,500 to ANYONE who purchases a home between now and May, 2010. The government understands the impact on the economy when just one house is sold so they are letting everyone in on the tax incentive.

There are other advantages to downsizing your home as well.

Reduced Energy Costs. A smaller home costs less to heat and cool.

More money in your pocket at the end of the month. A smaller mortgage payment gives you more money to invest or help with college expenses.

Less to take care of. A smaller home gives you less to clean and maintain.

As you can see there are many advantages to a smaller home. Feel free to contact me if you are interested in finding out the best way to downsize. I would be happy to give you a free market analysis on the current value of your home as well as access to homes on the market that you might like to move to.

Warm regards,

Judy Griffin, Realtor, Realtor

850-685-8595

judy.griffin@cox.net

Travelling to the Gulf Coast just got easier with the addition of air service to the new The Northwest Florida Beaches International Airport in Bay County. The new airport, set to open in May 2010 will provide service from Southwest Airlines in June with non-stop flights to Baltimore/Washington, Nashville, Houston, and Orlando. 

Southwest is known for being a leader in value priced fares. Having service available will offer a lot of opportunity for residents and visitors alike to take advantage of the lower fares. Many feel the the lower fares will attract more tourist and industry to our area. 

The new airport is replacing the existing Panama City Airport and is the only new international airport that has been built in the U.S. in over 25 years. The new airport is located in Ebro which is west of the current airport making it more accessible for people traveling to the beaches of Panama City, Santa Rosa Beach and Destin.

Feel free to contact me for additional information.

Judy Griffin, Realtor, Realtor

Pelican Real Estate

850-685-8595

Destin and the Beaches of South Walton made the Frommer's Top Destinations 2010! The local's have known for many years that our area was special, now the world will know by having a huge endorsement from one of the most prolific vacation guides.

Take a look at the full article: http://www.frommers.com/articles/6469.html

Many people ask me if the holiday season is a good time to sell a home. While it can be an inconvenient to show a property when you have guests, I think selling your home over the holiday's can be very fruitful for people that need to move at this time of the year.

In our area, I often find that many military members relocate around the Christmas break. The time between Thanksgiving and Christmas is an excellent time to attract those military buyers that need to report in January to their new duty station. These homebuyers are serious buyers. They are generally motivated and can move quickly so when you do have a showing there is a greater chance that your house will sell.

Holiday decorations make your house shine! Festive colors, colored lights and spicy fragrances enhance your home and show it off at its very best. Bring in fresh cut Christmas Trees and wreaths with all of their fragrant scents. Red is an emotionally charged color. Use it to it's best advantage in candles and stockings on the fireplace.

Like to bake during the holidays? Nothing says "welcome home" better than fresh baked cookis and pies. Leave a plate out for your showings and open houses and make the buyers feel instantly at home.

So, during this holiday season, take advantage of all the season has to offer to make your home the one that people would like to spend their next holiday in.

Judy Griffin, Realtor, Realtor

Pelican Real Estate

850-685-8595

judy.griffin@cox.net

www.EmeraldCoastFloridaHomes.com

The fall has been a busy time along the Emerald Coast. Sales were strong bouyed by the first time home buyer tax incentives that were initiated by the Obama administration.

We saw many foreclosed and short sale inventory being taken off the market as well. These homes prsented an excellent opportunity for buyers able to take advantage of the exceptional deals in Niceville, Crestview, Destin, Navarre and Fort Walton Beach.

September Stats:

October Stats

You have 8 seconds for a buyer to decide if they really like your house. The buyer starts the decision making process from the time they pull in the driveway to the first impressions that they experience when walking into your home.

So, it is essential that your home is in the best condition possible to capture the buyer.

There are four varibles that sell a house.

• Price
• Terms
• Condition 
• Location
• Agent You Pick to Represent You

Each aspect must be taken into consideration if you want a property to sell.

1.  Price fixes everything!  Don't let anyone tell you different.  When the buyer perceives value they will buy the home.

2. Terms: Often, there are circumstances where a buyer has lost the ability to qualify for a traditional loan because of a foreclosure or bankruptcy. Offering owner financing may help your home sell. Often, the buyer would be willing to pay more if they can buy the home with a small down payment.

3. Condition:  Condition is a key factor in selling a home. Homes in top "Show Condition", are more attractive to buyers. The home is in move in condition with very little for the buyer to do. The seller can expect to get top dollar for their home. If the home is in poor condition with worn carpets, outdated wallpaper and fixtures, the price needs to be adjusted downward.  Buyer's need to be compensated for the repairs and updates needed to the home to make it worth their while to invest in a home with work needed. The needs to be the BEST property at the Lowest price to get to the closing table.

Carpet or paint allowance does NOT work in selling a home.  If the home needs carpet, put it in.  If the home needs painting, get it painted.  Many times this can cost a seller $5,000 to $8,000 to do those upgrades.  The money invested will come back in the form or a quick sale at full market value.

4. Location: This is the toughest variable in the sale to compensate for.  Most people have heard about in Real Estate the terms Location, Location, Location. If the location is bad.. ONLY price will sell the property.

It does not matter that the same model home across the street sold for thousands more, because it was ACROSS THE STREET and did not back to the highway.  If the seller got a good deal when they bought because it had a bad location then they have to give the new buyer the same good deal to sell. 

Sellers should take all the emotion out of the business of selling a home and treat the transaction as an investment decision. 

If the goal is to get the home sold then listen to your realtor. Make the required improvements or be prepared to lower the price to compensate for any deficiencies. 

I would be glad to take a look at your home to see what items would be worth investing in to get your home sold. Call me at 850-685-8595. I would be glad to be of service.

Judy Griffin, Realtor, Realtor

Pelican Real Estate

850-685-8595

judy.griffin@cox.net

www.EmeraldCoastFloridaHomes.com

Many buyers are confused about the role of the buyer's agent and why they are so important for a buyer to use an agent that represents only their intrests In the transaction.

Buyer's Agent Get to Know You

A buyer's agents job is to get to know you and your family and find the house that meets your needs. The agent will know the local community and know the past and present homes on the market to better help you make a good decision on the home you purchase at the right price. Ultimately, the buyer's agent is your advocate to help you find the best property.

Buyer's Agents Work Hard For You

Many agents spend countless hours finding the right home for a client. They look through the homes listed on the MLS to insure that you do not miss a property that might work for you. Often the agent will contact For Sale By Owners so they know of every property on the market. Buyer's agents make appointments to view listings and spend countless hours showing homes and helping you evaluate the merits of each property. When writing a contract to purchase a property, the buyer's agent can provide recent data to insure that you know the market vaule of the home you are buying.

The Agent Introduces you to Industry Professionals

The buyer's agent can recommend professionals that help you complete the transaction. They often know the lenders with the best rates and lowest fees in town or the ones that offer special discounts for teachers, firefighters, first time home buyers and the military. They can provide you with a list of qualified home inspectors, insurance companies and local handyman that can fix just about anything.

Why Buyer's Agents Ask for a Buyer Broker Contract

Agents who want to ensure that they have a legal and binding agreement that allows them to represent a buyer exclusively, and be paid for their efforts, will ask a buyer to sign an exclusive buyer broker agreement. Agents are independant contractors and do not get paid unless they help a buyer complete a transaction. A buyer broker's agreement simply insures that they will be paid for the time they invest in finding you the buyer the perfect home.

Do Buyers or Sellers Pay the Buyer's Agent?

Generally, a listing agreement between the seller and the seller's listing agent specifies how much the listing brokerage will pay the selling brokerage for bringing a buyer.

Yes, the seller pays the buyer's agent to negotiate on behalf of the buyer, not the seller. Many buyer broker representation agreements state that if anybody other than the buyer pays the commission, then the buyer does not have to pay it.

For more information about buying a property in Niceville, Destin or Crestview, Florida feel free to contact me at judy.griffin@cox.net.

Judy Griffin, Realtor, Realtor

Pelican Real Estate

850-685-8595

The statistics are in for the sales along the Emerald Coast for August 2009. The sales data is comprised of information reported by the Emerald Coast Assn. of Realtors for Destin, Crestview, Niceville, Fort Walton Beach, Miramar Beach and Navarre.

The sales activity for August was very strong along the Emerald Coast. The average sales price was up slightly accross the board. The active inventory of properties is down almost 50% over a year ago showing signs of a more stable houseing market.

If you would like additional information, please feel free to contact me for the statistics for your neighborhood.

Judy Griffin, Realtor

Judy Griffin, Realtor is a Real Estate Professional the specializes in Real Estate along the Gulf Coast including Destin, Niceville, Crestview, Fort Walton Beach, Miramar Beach, and Navarre. Jusy can be reached at judy.griffin@cox.net or visit her website at www.EmeraldCoastFloridaHomes.com.